The coronavirus pandemic impacted pretty much every aspect of the world, and Facebook was no exception. The social media platform saw a marked reduction in ad spending, something that did not bode well at all for the company since the vast majority of its revenue comes from the various ads that people pay to put up on the site. However, after the major downturn that resulted in a huge drop in ad revenue for Facebook, things seem to be picking back up again as the world starts to see the end of the pandemic in sight, as reported by Aisle Rocket.
Part of this has to do with brands and marketing agencies changing their approach to a large extent. The pandemic resulted in a change in how people approached ads and the like, and brands were slow to catch up with this sort of thing. Now that brands have cracked the code, they are more likely to spend money on ads since they would have a better idea of whether or not said ad would work in the first place. Ad spending had started to increase again in April when the pandemic was still at its peak, but conversions were quite low which resulted in the decline continuing in subsequent months.
This really goes to show how solid Facebook is as a company. Even the worst pandemic in a hundred years could not stop the hurtling, unstoppable train of Facebook’s success. The past year has been a litmus test for a lot of businesses. It showed a lot of deficiencies that businesses were somehow able to ignore due to the generally good state of the economy, and chances are that as more time goes by businesses will have to compete a lot more which is a really good thing especially when it comes to the tech industry.
H/T: BOA.
Read next: According to Google's Data, over 2 Million phishing websites emerged in 2020
Part of this has to do with brands and marketing agencies changing their approach to a large extent. The pandemic resulted in a change in how people approached ads and the like, and brands were slow to catch up with this sort of thing. Now that brands have cracked the code, they are more likely to spend money on ads since they would have a better idea of whether or not said ad would work in the first place. Ad spending had started to increase again in April when the pandemic was still at its peak, but conversions were quite low which resulted in the decline continuing in subsequent months.
This really goes to show how solid Facebook is as a company. Even the worst pandemic in a hundred years could not stop the hurtling, unstoppable train of Facebook’s success. The past year has been a litmus test for a lot of businesses. It showed a lot of deficiencies that businesses were somehow able to ignore due to the generally good state of the economy, and chances are that as more time goes by businesses will have to compete a lot more which is a really good thing especially when it comes to the tech industry.
H/T: BOA.
Read next: According to Google's Data, over 2 Million phishing websites emerged in 2020
